科创债ETF南方（159700）纳入回购质押库，提升流动性管理能力、优化投资者资金使用效率

Core Viewpoint - The announcement by Southern Fund regarding the inclusion of the Southern Science and Technology Bond ETF (159700) in the pledge repo trading system marks a significant step in enhancing liquidity management and optimizing investor capital efficiency [1][4]. Group 1: Product Overview - The Southern Science and Technology Bond ETF (159700) is one of the first ETFs tracking the CSI AAA Technology Innovation Company Bond Index, focusing on AAA-rated technology innovation company bonds listed on the Shanghai and Shenzhen stock exchanges [4]. - As of August 25, the scale of the Southern Science and Technology Bond ETF has surpassed 10 billion yuan [1]. - The ETF includes over 800 constituent bonds with a total market value exceeding 1 trillion yuan, characterized by high liquidity and low credit risk [4]. Group 2: Regulatory and Market Context - The inclusion of the ETF in the repo pledge library is a proactive response to national financial policies aimed at supporting the development of the technology innovation bond market [4]. - The China Securities Regulatory Commission (CSRC) has emphasized the need to enhance support for technology innovation in the multi-tiered bond market, promoting high-quality development of technology innovation company bonds [4]. Group 3: Investment Features and Strategy - The Southern Science and Technology Bond ETF offers T+0 trading, a low fee structure of 0.15% per year, and diversified investment characteristics, providing investors with flexibility for same-day trading [4]. - The ETF aims to enrich the technology financial asset allocation system, guiding more social capital towards hard technology sectors, thereby injecting new momentum into the high-quality development of the real economy [5]. - Southern Fund is committed to continuous product innovation in the bond index fund sector, leveraging a dual strategy of "off-market products + bond ETFs" to create a comprehensive product system for clients [5].